EddieJayonCrypto
5 Dec 24
Russian President Vladimir Putin publicly acknowledged the benefits of Bitcoin, stating that it cannot be banned and highlighting its prominence as an example of a currency that cannot be stopped. He emphasized the emergence of new payment technologies and their unstoppable nature. Despite previous ...
Russian President Vladimir Putin acknowledges the benefits of Bitcoin, stating that it cannot be banned and highlighting its prominence as an example of a currency that cannot be stopped. He emphasized the emergence of new payment technologies and their unstoppable nature. Despite previous restrictions on cryptocurrency in Russia, Putin has spoken positively about digital assets, noting their potential for international payments.
Putin's acknowledgment comes amid ongoing sanctions against Russia by the U.S. and European governments. He emphasized that new payment technologies, such as Bitcoin and other electronic payment instruments, would continue to develop due to people's efforts to reduce costs and improve reliability.
Russia, which previously outlawed crypto mining and payments, has signed new laws allowing cryptocurrency mining and enabling the use of digital currency for international payments. However, cryptocurrency mining is banned in some regions due to electricity shortages.
These developments follow the British National Crime Agency's disruption of a money laundering operation linked to Russian criminals, which allegedly involved cryptocurrency to fund Russian espionage. This revelation sheds further light on the intersection of cryptocurrency and geopolitical issues, adding a new layer of complexity to the ongoing global financial landscape.